EV Insurance

[Zer0t]

I am looking at the price of my insurance vs comparably priced ICE vehicles. For example I would consider a GLB35 AMG vs a MY long range, similar price and function. The Tesla is 500 bucks more per year. I'm about to pick up a third EV and I am wondering if other carriers have better rates on EVs than Geico.

 

[redalf]

I went through this too with USAA, was astounded by the price jump on going to an EV. I shopped around and found Progressive to be the best by a wide margin (its been a bit since I've re-shopped my insurance rates though).

 

[swaltner]

Any discussion of "my insurance is high, who should I switch to?" is pointless. There are too many things that impact the insurance rates. The vehicle being insured, the coverage being requested (liability limits and comprehensive/collision deductible), the driver's record (tickets, etc...), the driver's credit score, the primary address the vehicle is stored at, if the vehicle is garaged, mileage per year (some policies are available with low-mileage coverage), the insurance company.

If you believe that your insurance premium is too high, you need to do some legwork and contact a few insurance agents to get actual quotes for you and your vehicles. Any guidance you receive on this thread for where to find discounted insurance is next to worthless.

Edit, my insurance premium on EVs is right in line with what I pay for gasoline-powered vehicles.

 

[Zer0t]

If you read what I wrote, I simply pointed out that the spread between what I pay for EVs vs similar ICE vehicles seems high. For example a M3P is 50% more than a Mercedes’ Benz GLB35 AMG or CLA45 AMG.

I believe my insurance rates are fine and I’m happy to pay for quality coverage. However, and my initial question, is GEICO just not good on EV coverage vs other companies?

 

[Mateo83]

Nationwide beat out Tesla by $20 a month for me

 

[Mateo83]

AND about $40 LESS a month than my Audi sq5.

 

[NJsFinest24]

I just got a few quotes for insurance on the Model 3 LR that I ordered. All the quotes are doubled for what I currently pay for my '21 Durango SRT. I'm actually thinking about canceling my order for the M3. The money I would save in gas would go right to the insurance, I would end up paying more per month lol.